Five financial reports you need to see monthly

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When managing their practices, a lot of very good doctors make bad business decisions because they lack the same data-driven rigor they give to patients.

No reputable doctor would recommend treatment without first taking a history and physical, conducting an exam, and perhaps ordering tests. Yet, a lot of very good doctors make bad (and often expensive) business decisions because they lack the same data-driven rigor when managing their practices.

Data-driven decision making starts with well, data. So here are five financial reports that physicians should review no later than the tenth day of every month, for the previous month's activity.

About the Author

Cheryl Toth, MBA, is a writer and content developer with KarenZupko & Associates, Inc., www.karenzupko.com, and brings 22 years of practice consulting and training, as well as healthcare technology product and executive management, to her projects.